Swipe, a fintech start-up recently raised fund of $2M in seed round from Y Combinator, Cred's Kunal Shah, GFC & 25+ other prominent angels. The start-up was incubated at riidl, Somaiya Vidyavihar University.

Swipe is a simple billing & payments app for small businesses in India.  With Swipe, businesses can create an invoice in 10 seconds & send it to their customers over WhatsApp. Customers are provided multiple ways to instantly pay, and business owners can keep track of pending payments and send reminders. Swipe not only helps with accounting & GST but boosts sales. Small businesses can send notifications to customers about discounts, special offers, and product updates - as well as create a product catalogue for online orders.

Within a year of its launch, the platform has 25,000+ business owners registered with them using this technology. Swipe has recorded $30m+ in transactions and is growing 100% MoM.

“We want to have everything SMEs need to win. It is expected that there will be 105 million-plus SMEs in India by 2024. We imagine Swipe to be a simple end-to-end software stack that every small business needs to grow,” Sri Teja says

The round was led by Y Combinator, the round also saw participation from Global Founders Capital, Soma Capital, Locus Ventures, Duro Ventures, K3 Diversity Ventures, Lish Lee Jung & Oliver Jung.

25+ angels, including CRED’s Kunal Shah, Justin Hamilton, GoCardless' Matt Robinson, Podium’s Eric Rea, Dennis Steele & Brad Jenson, Spenmo’s Mohandass Kalaichelvan, OkCredit’s Gaurav Kunwar, Steven Liu, Rupert Brenninkmeijer, Deepak Garg, Deepanshu Madan, Christophe L., Kunal Bisla, Oussama Ammar, Cameron Urban, Alay Jhaveri, Sundeep Ahuja, Stefano Zorzi, Karn Jajoo, Mrunal Jhaveri, Mandar Shinde, and Alan Rutledge participated in the round.

Speaking about the funding, Aditya, Co-founder of Swipe said, “Swipe was founded on the premise of monetising the consumer base, while accounting gets automated. For a small business who competes with the likes of Amazon every rupee of increased revenue is like gold for them. They need tools to compete, especially tech tools, to reach a lot of consumers, build long term relationships. We provide online storefront as SMBs are now moving towards WhatsApp Businesses”.